223

Crypto expert hints altcoins are ‘ready to run another 100-200%’; Here’s why

Crypto expert hints altcoins are 'ready to run another 100-200%'; Here’s why
Ana
Nicenko
3 weeks ago
2 mins read

As the cryptocurrency market flashes green again, reclaiming the $1 trillion market capitalization, crypto traders and investors are carefully observing the performance of various altcoins to try and predict their further behavior.

Upon detailed examination of the altcoin market, crypto trading expert Michaël van de Poppe has drawn a conclusion that these digital assets are ready for another 100-200% run from where they are at the moment, as he explained in his tweet on July 28.

“Altcoins are ready to run another 100-200% from here.”

Example of AVAX

To illustrate his point, van de Poppe used the example and chart of Avalanche’s AVAX token that shows its breaking above the 50-day moving average earlier, highlighting that the “retest confirms buying pressure.”

The trading expert added that he also noticed “acceleration happening above $26 with all previous highs,” as well as “1D bullish divergence” to build on, which, according to him, indicates a possible target between $37 and $41.

AVAX/TetherUS 1D chart. Source: Michaël van de Poppe

Community bullish on altcoins and Bitcoin

Meanwhile, the crypto community over at CoinMarketCap estimated that the Cardano (ADA) token would trade at an average price of $0.711 by the end of August, a 56.20% increase from its price on July 27, as the network awaits the Vasil hardfork.

At the same time, the community has predicted that VeChain’s native VET token would surge by as much as 107.66% by August 31 and end up trading at $0.0486, possibly due to increased adoption, as Finbold reported earlier.

Besides altcoins, the community is also bullish on Bitcoin’s (BTC) near future, predicting it will breach the key psychological level of $30,000 and trade at an average price of $32,493 by the end of August, which is a 51.37% increase to the flagship digital asset’s price at the moment when the estimates were retrieved.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

Latest News

Join us on Twitter or Telegram

Or follow us on Flipboard Flipboard

Like the article? Vote up or share on your social media

Recommended content

Weekly Finance Digest

By subscribing you agree with Finbold T&C’s

Ana Nicenko
Author

Ana Nicenko has a plethora of knowledge and experience as a journalist covering the cryptocurrency and blockchain industries, having written for a variety of projects and organizations. Additionally, Ana has a master's degree in English Language and Literature. At Finbold, she reports news on the digital assets sector.

AD